Nepal SBI Bank Limited appoints NMB Capital Limited as issue manager for its upcoming 10:4 right issue

Nepal SBI Bank Limited (“SBI”) has appointed NMB Capital Limited as the issue manager to issue right share worth Rs 19,919,423.60 to its shareholders. Issuing a press release, NMB Capital said that Mr. Anukool Bhatnagar, Chief Executive Officer (CEO) of Nepal SBI Bank Limited and Mr. Shreejesh Ghimire, Chief Executive Officer of NMB Capital Limited signed the agreement yesterday. In line with requirements by the central bank of Nepal, Nepal Rastra Bank (“NRB”), for all “Class A” banks in Nepal to raise their minimum paid up capital from Rs 2.0 arba to Rs 8.0 arba by mid-July 2017, the ratio of right share will be 10:4 since the right share will be after allotment of recently issue FPO and endorsement of 28% bonus share by the 23^rd AGM going to be held on Magh 27, 2073. Nepal SBI Bank Limited has 73 branch offices (including 3 regional offices) and they have 83 ATM machine all over Nepal.